M.B.A. Consulting Philippines kicks off cooperation with the largest banks of the country

17.05.2019

M.B.A. Consulting Philippines kicks off cooperation with the largest banks of the country

Manila, Philippines – May 2019

In May 2019, Philippines branch of MBA Consult gets on board three banks that are among the 10 largest banks of the country. Early May, the first batch of endorsement has been received to work on. “We see the signing of an agreement with a bank as a major stepping stone for the Group in the Philippines. This is a kind of a signal indicating that local financial industry can entrust such crucial matters to an outsourcing partner”, – said Viktor Vodenko, the Global Chief Executive Officer of MBA Consult.

Prior to signing SLA with a bank, a company has to undergo an accreditation process. This is the most challenging stage in a contractual relationship: banks are very meticulous about checking documents of their potential partners. A partner company is required to provide evidence on its activities, certificates and permits from the relevant authorities, to comply with the BSP requirements, and to have a modern technological base.

“M.B.A. Consulting Philippines meets all requirements to work with NPLs of the banks. In addition, we use the latest technologies and constantly improve them, which gives us an undeniable advantage. Negotiations with the banks have been going on for a long time. Finally, we arrived at the finish line: the first contracts have been signed. This will allow us to receive portfolios on a regular basis,” – said Mr. Vodenko. “In the long term, we are going to cooperate with all the largest retail banks in the country. Now we are not only providing agency services, but also started to actively invest in purchasing NPL-portfolios in the Philippines.”

M.B.A. Consulting Philippines was established in the end of 2017. During the year, the company has achieved significant results: its clients are the largest representatives of the Philippines financial industry. Total amount of unique debtors at work has risen to 700,000 people. The company actively cooperates with banks – in April-May, service agreements were signed with several banks from Top-10. M.B.A. Consulting Philippines expects accreditation from 10 major players in the banking sector in the next quarters. More than 1 million unique debtors at work.

MBA Consult is a global player in the NPL management market and a leader of credit management service. It cooperates with more than 500 corporate clients worldwide. In the recent years, the Group has been active in Asian region. Entering the Philippines market in 2017 was triggered by the fact that this is one of the most dynamic economies in the East Asia and Pacific region. Demand for loans is growing: according to the Banko Sentral ng Pilipinas, the number of loans reached its maximum in December 2018 and amounted to PHP 1,662,847 bln (31,565 bln dollars of USA). Meanwhile, experts note the constant growth of the NPL: in the end of 2018, the Banko Sentral ng Pilipinas recorded NPL of PHP 161,779 bln (3,071 bln dollars of USA).

“The growth of the NPL is always a risk for both financial institutions and the country’s economy. We are extensively experienced in the markets of Europe, Asia and the CIS, we know exactly how to influence the situation and help in solving such complex issues. Thanks to our technologies and correct approaches to work, we restore the balance of interests of all participants of the financial system, thereby making a significant contribution to the development and proper functioning of the global financial system.”